Pandemic Service Charging
It’s time to do two things:
Help our fellow citizens, and
Get pass these troubling times financially successful.
Your view is always welcome.
Should Service Charges Be Suspended or Reduced?
Lake Forest, IL (March 24, 2020) “In the past 40 years of Moebs $ervices, there has been 9-11 & the Middle East Wars, the massive destruction of Hurricane Katrina, the mortgage crisis, 2 pandemics in 2009 and now with the COVID-19 outbreak,” says Michael Moebs, CEO & Economist. “The depositories who lowered their fee prices to aid the financial distress caused by these events have within about a year recouped their loss and gained revenue from more volume.”
As the world wrestles with the COVID-19 virus, financial institutions wrestle with the bottom line. Bond, stock and oil prices have fallen sharply in the first quarter causing rates on both sides of the balance sheet to fall. The net interest margin is falling. Fees are the key to offset the rate loss of the bottom line. READ FULL ARTICLE
Written By: m.moebs
Date Posted: 3/24/2020
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